Hodges Capital Management Inc. Has $1.89 Million Holdings in Chevron Co. (NYSE:CVX)

Hodges Capital Management Inc. trimmed its stake in Chevron Co. (NYSE:CVX) by 10.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,956 shares of the oil and gas company’s stock after selling 1,458 shares during the period. Hodges Capital Management Inc.’s holdings in Chevron were worth $1,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bare Financial Services Inc acquired a new stake in shares of Chevron in the fourth quarter worth $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron during the fourth quarter valued at about $30,000. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Cooksen Wealth LLC bought a new position in shares of Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its position in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Trading Up 0.1 %

Shares of CVX stock traded up $0.10 on Friday, reaching $156.42. 11,283,390 shares of the stock were exchanged, compared to its average volume of 7,477,035. The stock has a 50 day moving average price of $159.22 and a 200 day moving average price of $154.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market cap of $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.55 earnings per share. Equities research analysts forecast that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at $4,581,279. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is currently owned by company insiders.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.